XRP Nears Key Breakout At $0.75: Will December Trigger A Major Rally?
- XRP nears key resistance at $0.75; a breakout above $0.85 and $1.12 could signal a significant price rally.
- Three failed breakout attempts in 2023-24 add pressure, but renewed interest may finally drive XRP past $0.75.
- December rally could trigger gains up to $1.5 if XRP maintains closes above $0.60, setting stage for 2025 growth.
The price of XRP is close to a point of interest, with $0.75 as the critical level for the breakout. In a recent X post, Egrag Crypto highlighted that this hurdle is still relevant and a trend break above $0.75, $0.85, and $1.12 may induce a strong bounce. Market dynamics remain supportive of the move, allowing token to break through in the end.
XRP has been battling key resistance at $0.75 for quite some time now, and has been under heavy selling pressure in the past year. Three tries have been made to get past this level the first in November 2023, the second in March 2024, and the third in November 2024. These instances of pressure have limited Ripples potential to break out, though the anticipation is that the token may well soon breach this barrier courtesy of expanding trading interest.
XRPs Turning Point
December 2024 could be the turning point for Ripple. XRP has likely pierced through what some refer to as a threshold for upward momentum known as the wake-up line. Now the target is to hold the weekly closes above $0.60 to validate the break out. If these levels are maintained in the short term, targets are between $1.3 and $1.5, which could mark the beginning of a longer term up move prior to December.
Source: Chart by EgragCrypto
This expected surge may be a signal to the Ripple community that gains could continue through to 2025. Short term gains would provide a foundation for a stronger advance, which would be cause for long term investors to pay attention to the next few weeks. This is a period that many are considering as the key to the next phase breakout for the digital asset.
Potential December Rally for XRP
Ripple enthusiasts continue to remain positive about the cryptocurrencys future. Apart from the expected December rally, the followers hope for even more aggressive goals, and that is why the first wave may reach $6.5. The XRP community, or the XRP Army, believes these predictions are encouraging because they believe the price of Ripple coin will rise in the near future. At the time of writing, token is priced at $0.664 and has been down by 0.98% within the last 24 hours.
Source: TradingView
The price actions around these levels have many observing whether XRP will at last break its resistance at $0.75. This is because if it does, the cryptocurrency community can expect a long-awaited breakout and new investing opportunities. XRPs movement in the coming weeks leading to December will determine if this crucial rally will happen or not.
Read more: https://www.tronweekly.com/xrp-nears-key-breakout-at-0-75-will-december/
Text source: TronWeekly
